New-Home Prices in China Rose at a Faster Clip in October

Acceleration Concentrated in Major Cities, Where Analysts, Developers Say Supplies Are Short

By

Esther Fung

Updated Nov. 1, 2013 7:04 a.m. ET

SHANGHAI—New-home prices in China continued to climb in October, driven by strong demand in major cities, defying property controls and highlighting the challenges that policy makers face in keeping the market from racing ahead.

Prices in 100 cities were up 10.7% on average year-on-year in October, the highest growth rate since private data tracker China Real Estate Index System began keeping records in June 2011. Prices rose 9.5% on...